Income Taxes

3 Months Ended

Apr. 29, 2023

Income Tax Disclosure [Abstract]

Income Taxes

7. Income Taxes

The effective income tax rate for the first quarter of 2023 was 3.8% compared to a (2.8%) net benefit for the first quarter of 2022. In both periods, the tax rate was driven by the recognition of favorable tax items. The impact of the benefit of the favorable tax items, when compared to a low pre-tax income, results in the low tax rate for each period.